If your mother does not understand what you are saying then neither do you.
Friday, February 6, 2009
Would you like to pay for your coal with credit or debit?
Minyan Peter at 'Buzz and Banter':
Per MasterCard, from the third quarter to the fourth quarter total credit sales in the US fell almost 4.5%, and globally, measured in dollars, the decline was almost 9% quarter on quarter. Further, and contrary to what I was expecting, debit too saw quarter on quarter declines. And at the risk of stating the obvious, the fourth quarter includes Christmas.
Never in my near 25 year career have I seen a Q3 to Q4 decline in volumes. They just don't happen. At least not until now.
(Minyan Peter is a former treasurer at a large U.S. bank - AM)